Orange Confirms Solid Performance in Q3 2023

Orange, the French telecommunications group, has released its third quarter financial results, which were in line with market expectations. The company reported a 1.6% increase in revenue compared to the same period last year, reaching €11.00 billion ($11.74 billion). This growth was mainly driven by the company's retail operations, offsetting a decline in wholesale revenue.

The earnings before interest, taxes, depreciation, and amortization after leases (EBITDA AL) also showed a positive trend, with a 0.4% increase to €3.60 billion. On a comparable basis, EBITDA AL grew by 1.4%, surpassing the 1% growth achieved in the second quarter. This improvement was largely attributed to cost savings implemented by the company.

Analysts' consensus estimates were largely in line with Orange's reported figures, with expectations of €3.59 billion in EBITDA AL on revenue of €11.00 billion.

Looking ahead, Orange confirmed its outlook for 2023, which includes expectations of slight growth in EBITDA AL and a significant reduction in capital expenditure. The company remains committed to achieving its targets and maintaining its strong performance.